Thursday’s session signaled that the market is “getting genuinely overexuberant” and the major averages could become wobbly if more IPOs become overvalued in the near future, CNBC’s Jim Cramer said. Pinterest and Zoom made a big splash in their debuts to public markets, while other unicorns like Uber and Slack, among others, sit in the
The chief operating officer and general counsel of MedMen Enterprises have both resigned amid a broader employee shakeup at the American marijuana retailer. Chief Operating Officer Ben Cook and General Counsel Lisa Sergi Trager — who also served on the company’s board — have quit, a source familiar with the matter tells CNBC. Senior Vice
Earnings season shifts into a higher gear in the week ahead, as investors also watch for fresh economic data that could show that the economy is pulling out of a temporary rut. Amazon, Boeing, Microsoft and ExxonMobil are among more than 140 S&P 500 companies reporting quarterly results. According to Refinitiv, 74% of the companies
It’s a good time to be a graduate. Those armed with a newly minted diploma will enter a job market with unemployment near the lowest level in 50 years and job prospects up significantly from just last year. Employers plan to hire nearly 11% more graduates from the class of 2019 than they did from
The debuts of Pinterest and Zoom Video Communications on public markets also came with froth, which could lead to a market peak, CNBC’s Jim Cramer said Thursday. Froth is a condition that usually precedes a market bubble. “The top of the market always comes when there is tremendous euphoria, and today we saw that euphoria
Signet Jewelers Ltd.: “I think Signet’s really gotta find its calling. It needs to find out its calling, ’cause it sure wasn’t calling in that last quarter. We gotta wait.” Funko Inc.: “The reason why they’re all over the place [is] ’cause they have some of the absolute best toys … I’m not just saying
First quarter growth perked up late in the quarter, to well above 2% after looking to be 1% or less when the economy was being hit by winter storms and the government shutdown. Economists surveyed by CNBC/Moody’s Analytics Rapid Update raised their growth estimates by 0.3 percentage points to a median 2.4% Thursday, following a
CNBC’s Jim Cramer on Thursday said the banking sector reported positive earnings results over the past week and that the stocks remarkably were able to rally on the news. “The big takeaway from the major banks is that the group is doing better than we thought and even after this latest leg higher, many of
Check out the companies making headlines after the bell: Shares of Intuitive Surgical plummeted more than 6 percent in extended trading Thursday following the release of the company’s disappointing first-quarter earnings. Intuitive Surgical posted earnings per share of $2.61, missing Refinitiv estimates of $2.70. Revenue was in line with estimates at $974 million. Pinterest shares
The premium on Twilio (NYSE:TWLO) continues to increasingly draw attention. Despite warnings about valuation coming from multiple quarters, Twilio stock has recovered quickly from all of its temporary pullbacks over the last 16 months. Consequently, this has taken TWLO stock to multiples that worry investors not typically concerned with value. With any path to higher
A few well-known stocks — and some not quite so well known — are just a few of the names analysts say have “upside” potential. They see companies like Snap, Estee Lauder, and Pinnacle West as just a few worth looking at as earnings season rolls on. CNBC did a deep dive through company research
Check out the companies making headlines midday Thursday: Zoom Video Communications — Shares of the videoconferencing software company Zoom surged 80% on Thursday, its first day of trading. The stock traded as high as $66, compared with its initial price of $36. The bump gave Zoom a market cap of $16.7 billion. Pinterest — Pinterest
Tech stocks have been on a roll, but that’s only the headline news. Don’t think that because some of the big names are going gangbusters that the good news translates to all tech firms, even similar firms in the same sectors as the winners. The one thing that happens when earnings slow is investors start
It’s the same action that we’ve had for much of this week. Stocks press lower near the open only to recover by lunch and push higher in the afternoon. The gains aren’t remarkable, but the bulls’ resilience is something to take note of. The sector rotation underway also remains astounding. On that note, let’s look
PayPal Holdings Inc (NASDAQ: PYPL) is scheduled to release earnings a week from today. And the Street is already bullish. Morgan Stanley just raised its price target from $103 to $113 and PYPL stock is in a sector with a lot of tailwinds right now. Source: Shutterstock PYPL stock is up 36% in the past
Ah, the magic of analyst ratings! After a tough month in April, cannabis firm Hexo (NYSEAmerican:HEXO) suddenly reversed course after Bank of America analyst Christopher Carey initiated coverage. Sizing up the risk and reward profile, Carey assigned a “buy” rating on Hexo stock with a $10 price target. Source: Shutterstock The news couldn’t have come
A 2018 survey of CEO pay in 22 countries around the world including the U.S. found that the average CEO was paid $3.55 million annually. Here in Canada, where I live, the average CEO was paid a little more than $7 million. In the UK, it was almost a million higher than Canada. How about
Ford (NYSE:F) is having a good April. It’s launched two attractive SUVs, and Ford stock is up 12% over the last month. I wasn’t sure if Ford stock would ever climb out of sub-$8-territory, but it sure has, putting the owners of Ford stock in a much happier frame of mind. F stock appears to
Shares of Zoom are in high demand on Thursday morning but there’s one problem: It appears to be a case of mistaken identity. Zoom Technologies (ticker ZOOM) is not the company Zoom Video Communications (ticker ZM) that is expected to begin publicly trading on the Nasdaq on Thursday. Rather, Zoom Technologies is a tiny Chinese
Nokia (NYSE:NOK), which reinvented itself this decade as a telecom equipment supplier, is still waiting for the 5G gold rush. Source: Shutterstock The new mobile phone standards will require new base stations and radios that can handle both huge amounts of data and new swaths of frequency bandwidth. The question has always been how fast,
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